Ø INDICES: Sensex -127 at 16293 (-0.77%),
NIFTY -37 at 4929 (-0.74%), CNXMIDCAP -78 at 6986 (-1.1%)
Ø SECTORAL PERFORMANCE: BANKEX 0.02%,
AUTO 0.58%, CAPITAL GOODS -0.96%, HEALTHCARE -1.97%, Metal -1.17%, OIL &
GAS -0.49%, IT -0.9%, FMCG -1.27%, PSU -1.01%, REALTY -0.36%, Consumer Durables
-0.55%, POWER -1.4%
Ø MARKET BREADTH: 132 Advances,
362 Declines (BSE 500)
Ø VOLUMES: BSE $0.35bn (-0.36%), NSE $1.73bn
(-4.71%), F&O $23.07bn (11.31%)
Ø TODAY'S GAINERS: JPA 4.31%,
BJAUT 3.62%, TTMT 2.87%, SESA 2.17%, AXSB 1.93%
Ø TODAY'S LOSERS: TPWR -4.62%,
RBXY -4.04%, SUNP -3.79%, HNDL -3.7%, GRASIM -3.5%
MARKET COMMENTARY:
Though Indian benchmarks continued to trade with significant losses of
around a percent, the downslide for frontline equity indices appeared to have
got arrested in afternoon trades. The benchmark gauges at one point in time
appeared set to breach the psychological 4,900 (Nifty) and 16,250 (Sensex)
levels as investors were ruthlessly squaring off positions across the board on
getting the unexpectedly shocking March industrial production data. However,
the key indices seemed to be stabilized just above those crucial levels. But
sentiments continue to remain somber as India's industrial production
unexpectedly contracted 3.5% in March for the first time in five months,
indicating marked slowdown in Asia’s third largest economy. In addition,
market’s mood also got undermined after European counterparts got off to a
sedate opening on the back of gloomy global developments. Sharp deterioration
in confidence of market participants around the world was evident amid
uncertainty over Greece's political outlook, a huge loss from JPMorgan and
mounting concerns over Spain's banking sector. Besides, sentiments also were
dampened by the disappointing cues from money market where anemic rupee
returned to its depreciating ways against the US dollar despite the Reserve
Bank’s efforts to check outflow of Forex. There appeared absolutely no evidence
of buying as investors resorted to across risk aversion after the downbeat
domestic and global cues. The defensive counters like Healthcare and FMCG
plummeted close to two percent each and were the top laggards in the sectoral
space. While investors also were seen booking profits in Metal and Capital
Goods pockets which sank around one and half a percent each. Though no sectoral
index traded on a positive note, some heavyweight individual names like Tata
Motors, Bajaj Auto and BHEL bucked the negative trend and traded with notable
gains. Moreover, the broader markets traded on a pessimistic note with sharp
cuts while the market breadth was in favor of declines.
NEWS ON TODAYS MOVERS:
Ø Cipla lost
2.30%on profit booking after companies net profit rose 36.3% to Rs 291.74 crore
on 12.1% growth in income from operations to Rs 1890.03 crore in Q4 March 2012
over Q4 March 2011.
Ø Jain Irrigation
Systems rose 1.14% on bargain hunting after good Q4 March 2012 numbers.
Ø Cadila
Healthcare rose 0.88%, with the stock extending Thursday's 2.33% gains
triggered by the company reporting good Q4 earnings.
Ø JSW Steel
tumbled 5.10% on reports the Supreme Court has ordered the Central Bureau of
Investigation to probe the company's role in procuring iron-ore from illegal
mines in Karnataka.
Ø NTPC fell nearly
0.84%, extending Thursday's 1.22% fall triggered by weak Q4 March 2012
earnings.
Ø
Dr Reddys
Laboratories fell 2.20%, after consolidated net profit rose 2.46% to Rs 342.70
crore on 34.21% increase in total income to Rs 2,638.65 crore in Q4 March 2012
over Q4 March 2011.
CORPORATE NEWS:
Ø MMRDA
shortlists 5 consortiums, including L&T, to develop MTHL
Ø JSW Steel
declines on buzz SC orders CBI probe
Ø McNally Bharat
bags order worth Rs138.60 cr
Ø Federal Bank
Q4 cons net profit jumps by 35%
Ø Suzlon Group
install wind capacity at Jaisalmer
Ø Karnataka will
hand over land to Infy, Wipro by month-end
Ø DB Corp share
sale offer oversubscribed
Ø RIL keen to
foray in fin biz, invests in banking stks
Ø Suzlon Group
arm secures 39MW order in overseas
Ø M&M
Nashik fire loss pegged at Rs76 crore
ECONOMIC NEWS:
Ø Union
Cabinet defers insurance bill but clears MFI Bill
Ø Fall in
industry output reinforces slowdown trend: Gokarn
Ø DGCA warns
airlines against cashing in on AI pilots' strike
Ø IIP for March
at -3.5% vs 4.1% in Feb
Ø 2G: SC takes
up Presidential reference on 2G licenses
Ø NRI deposits
triple in FY12 to $11 bn
Ø Air India
strike enters 4th day; 12 flights cancelled
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